What Does a Property Manager Do?
A Property Manager uses their organisational and problem-solving skills to take care of one or multiple properties, including maintenance issues, property leases and rental contracts to make sure that everything is legally compliant and that both tenant and landlord’s needs are met when a contract is signed.
It is important for a Property Manager to have a good knowledge and understanding of property laws and regulations for screening good tenants and complying with fair housing regulations.
An experienced Property Manager can progress to senior roles or move careers into real estate or facilities management after learning the appropriate skills.
Dress Code
A Property Manager’s attire typically leans towards business casual, this includes neat and pressed trousers or skirts, button down shirts and blouses, and closed-toe shoes in a neutral colour.
Property Manager Duties
It is part of a Property Manager’s role to be a liaison between tenants, landlords and contractors, making sure that all contracts are legally compliant and mutually agreeable to all involved parties.
Property Manager Tips
Work on strengthening your negotiation and communication skills, as a Property Manager needs to speak confidently and concisely when dealing with tenants and landlords.
You should have good budgeting skills for working with contractors and taking into consideration any maintenance that might need to be performed in a property.
Key Property Manager Qualifications and Skills
To become a successful Property Manager, you will need excellent organisational and problem-solving skills, some negotiating skills, and knowledge of property laws.
Organisational & Problem-Solving Skills
To efficiently manage multiple properties, including dealing with tenant issues and maintenance tasks, a Property Manager must have good organisational and problem-solving skills.
Issues can arise within a property, and it is up to the Property Manager to find a solution and fix the issue quickly. This might include finding a Handyman or tradesman to fix a maintenance issue. If a Property Manager is in charge of multiple properties, it is important to prioritise tasks and deal with each tenant individually, depending on their needs.
Knowledge of Property Laws & Regulations
Having knowledge of property laws and regulations ensures compliance and helps a Property Manager to address legal matters that might arise with tenant contracts or lease agreements. A Property Manager will also be an intermediary for tenants and landlords to reduce the risk of legal issues arising when dealing with a dispute.
Knowledge of property law is also important for screening tenants; this includes making background checks and complying with fair housing regulations to ensure a safe and legal tenant selection process.
Negotiation Skills
Property Managers need to be able to negotiate with tenants and landlords to find mutually beneficial solutions to any problems that might arise during a tenancy. To do this it is important to be able to communicate clearly, and articulate ideas and proposals effectively.
A Property Manager should be a good active listener, paying attention to the needs of all parties involved in a dispute or contract agreement and display professionalism by being calm and respectful.
Property Manager Job Responsibilities
A Property Manager is responsible for dealing with tenant relations and property maintenance, they also oversee rental agreement, handle budgets and organise repairs.
Managing Tenant Relations & Property Maintenance
It is part of a Property Manager’s job to screen tenants based on property law to create a good environment for both tenants and landlords. They must also handle tenancy agreements to make sure everything is legally compliant, collect rent, and act as the point of contact between tenants and landlords or contractors.
Property Managers will deal with regular property maintenance and any emergency maintenance that might be needed, contacting the appropriate trades person or Handyman to fix any issues. All these things are important to create positive relationships with tenants.
Overseeing Rental Agreements & Contracts
To ensure legal compliance, a Property Manager must use their knowledge of property law to oversee all rental agreements and contracts. They will be the intermediary between contractors, landlords and tenants to negotiate legal contracts and documentation to make each rental agreement mutually beneficial to all parties.
This will take good communication skills to speak clearly with everyone involved in the transaction and maintain good relationships. A Property Manager will also be responsible for dealing with evictions if they arise, and it will be necessary to adhere to tenant rights and legal procedures.
Handling Budgets & Organising Repairs
It is important to have a suitable budget for when issues arise at a property, as items might need to be replaced, and contractors will need to be contacted to fix any issues. A Property Manager will need to deal with these issues and set a suitable budget, using good problem-solving and budgeting skills to know how to plan for these events.
It is also important for a Property Manager to have a list of reliable tradesmen who fit within the budget for emergency issues.
Property Manager Career Path
With enough experience and skill, a Property Manager can progress to senior property manager roles or consider real estate or facilities management.
Senior Property Manager Roles
A Senior Property Manager is expected to manage a portfolio of properties as well as oversee a team of Property Managers while dealing with previous responsibilities such as overseeing property maintenance and screening tenants.
It is important to improve your communication skills for speaking with landlords, tenants and other Property Managers within your team, and be confident in your knowledge of property laws and regulations.
Opportunities in Real Estate or Facilities Management
To progress into a role within real estate, you must use your knowledge and understanding of tenants and landlords to assist clients with finding a property. In this rol,e you will use excellent communication skills to represent clients, sellers or landlords to make sure their needs are met. This role also requires compiling documentation, valuing properties, and marketing properties.
Facilities management can encompass various roles, but it requires the knowledge and experience you have gained as a Property Manager to manage budgets, contracts and tenant relations amongst other responsibilities.
FAQs on Becoming a Property Manager
What Are the Challenges of Being a Property Manager?
There are many challenges that come with being a Property Manager, such as dealing with financial issues, finding and retaining good tenants, and managing maintenance and repairs.
What Qualifications Do I Need to Be a Property Manager?
No specific legal qualifications are mandatory; however, it is helpful to have a strong understanding of property management principles, and some industry-specific training or certification.
How Much Do Property Managers Earn in the UK?
A Property Manager can expect to earn around £28,000 per year with some experience, with some entry-level roles starting at around £25,000 per year.
Is Property Management a Flexible Career Option?
With enough experience, Property Managers have the opportunity to set their own hours, and some employers may offer the possibility to work from home, allowing for plenty of flexibility within this role.
